FPIs Stay Net Buyers For Third Day, Lowest Single-Day Buying So Far In 2024

Overseas investors remained net buyers of Indian equities for the third consecutive day on Wednesday, while the domestic institutional investors turned net buyers after two days of selling.

Foreign portfolio investors net bought stocks worth Rs 7.78 crore — the lowest single-day buying from the FPIs so far this year. The DIIs bought shares worth approximately Rs 1,302 crore, according to provisional data by the National Stock Exchange.

The FPIs turned net buyers of Indian equities on Monday, ending a 38-session selling streak. They purchased stocks worth Rs 9,947.6 crore, marking the second-largest buying spree by the FPIs this year.

The FPIs have offloaded stocks worth Rs 29,834.3 crore so far in November, while the DIIs mopped up stocks worth Rs 30,042.2 crore.

In October, the FPIs sold stocks worth Rs 1.14 lakh crore, while the DIIs mopped up stocks worth Rs 1.07 lakh crore. In September, the FPIs had bought stocks valued at Rs 15,423.4 crore, while the DIIs purchased stocks worth Rs 31,860.3 crore.

Foreign institutions have been net sellers of Rs 5,437 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.

The benchmark equity indices continued to gain after a one-day drop and closed at their highest since Nov. 6, led by gains in HDFC Bank Ltd. and Adani Group shares, which emerged as the top Nifty contributors.

The NSE Nifty 50 ended 80.40 points or 0.33% higher at 24,274.90 and the BSE Sensex closed 230.02 points or 0.29% up at 80,234.08. During the day, both the Nifty and Sensex rose over 0.6% to hit 24,354.55 and 80,511.15 respectively, their highest levels since Nov. 7.

Globally, market players assessed the impact of Trump's tariff policies and Israel-Lebanon ceasefire and they await key economic data from the US, including prelim GDP and PCE Price index.